Author: Vardiafrica

The Bank of Industry (BOI) has launched a special intervention programme, Project Guaranteed Loans for Women (GLOW), valued at ₦10 billion to support female entrepreneurs across the country. The bank’s Managing Director, Dr. Olasupo Olusi, announced the initiative on Thursday in Lagos, stating that the funding “aims to bridge the financial inclusion gap for women in Nigeria.” According to him, Nigeria leads the world in women’s entrepreneurial activity, with 23 million female entrepreneurs accounting for 41 per cent of the country’s micro-businesses. Olusi decried that access to finance remained a major challenge for women looking to scale their businesses. He,…

Governor Monday Okpebholo of Edo State has dissociated himself from the South-South Governors Forum’s stance on the State of Emergency in Rivers. Okpebholo disclosed this in a statement issued in Benin by his Chief Press Secretary, Fred Itua, on Thursday. He said that he was neither consulted nor informed about the position taken by the forum. Recall that South-South Governors’ Forum had reacted to the declaration of a state of emergency in Rivers, describing it as “condemnable”. Okpebholo stated that he recognised the right of other South-South governors to take a position on the matter. However, he dissociated himself from…

President Bola Ahmed Tinubu on Thursday lauded the National Assembly for its decisive and patriotic ratification of the State of Emergency proclamation in Rivers State, a critical step to restoring stability after a protracted political crisis that paralysed governance in the state and endangered national economic security for over 15 months. The President specifically commended the National Assembly’s leadership—Senate President Godswill Akpabio, House of Representatives Speaker Tajudeen Abbas, other principal officers and members—for prioritising the security and welfare of Rivers State people above partisan interests and other considerations. He further acknowledged the lawmakers’ diligent review of classified security briefings, underscoring…

Vice Admiral Ibot-Ete Ibas, the Newly Appointed Sole Administrator of Rivers State, has officially taken up his duties. Ibas, a former Naval Chief, arrived at the Government House in Port Harcourt on Thursday, following a formal reception at the airport. Upon arrival, Ibas met with Permanent Secretaries and held a closed-door meeting with security heads, including the Commissioner of Police and the Director of the Department of State Services (DSS). Speaking to journalists after the meeting, Ibas said discussions with security heads were ongoing. “I may be able to speak further later in the day,” he added. Despite the challenges,…

The House of Representatives has voted in support of the declaration of a state of emergency in Rivers State. In a move that has split Nigerians and has continued to attract severe criticism, President Bola Tinubu on Tuesday declared a state of emergency in Rivers and suspended Governor Siminalayi Fubara, his deputy Ngozi Odu, and members of the Rivers State House of Assembly for six months following the political crisis that had rocked the state. But two days after Tinubu’s declaration, the House of Representatives in a voice vote backed the President, giving a seal of approval to his decision.…

Like the House of Representatives, the Senate has approved President Bola Tinubu’s proclamation of a state of emergency in Rivers State, invoking its constitutional powers under the amended 1999 Constitution. The approval grants President Tinubu the authority to enforce emergency measures while mandating a review of the situation at any time, but no later than six months. Per the Constitution, the National Assembly has also imposed a joint committee of both chambers, to oversee the administration of affairs in Rivers State during the emergency period Additionally, the Senate has resolved to establish a mediation committee consisting of eminent Nigerians to…

The Federal Government has reiterated its commitment to transforming the economy of the country through renewable gas energy. Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, stated this at the commissioning of the Otakikpo LPG Extraction Plant and 20MW Gas-to-Power Project, built by Green Energy International Limited/Lekoil Joint Ventures in Andoni Local Council of Rivers State. He said the Ministry of Petroleum Resources (Gas) has the mandate of President Bola Tinubu to drive the gas sector in the country, with an estimated 209 billion cubic gas reserves, stressing that the building of the Otakikpo gas extraction and power plants…

The House of Representatives has resolved to investigate the delayed payment of the Conditional Cash Transfer Fund to Nigerians. This decision followed the adoption of a motion presented by Rep. Abass Adigun (PDP-Oyo) during a plenary session held on Wednesday in Abuja. In his motion, Adigun highlighted that the Federal Government, in collaboration with the World Bank, launched the Social Safety Nets Programme for Nigeria in September 2016. The initiative is implemented through the National Cash Transfer Office, which oversees the Household Uplifting Programme, Conditional Cash Transfers, designed to support poor and vulnerable households nationwide. Growth and social inclusion strategies …

The newly sworn-in Sole Administrator for Rivers State, Vice Admiral Ibok-ete Ibas (rtd.), has promised to maintain law and order in the crisis-hit state. “We know the circumstances that led to why we are here and Mr President made it clear in his broadcast,” Ibas told reporters after he was sworn in by President Bola Tinubu at the State House in Abuja on Wednesday. “If the main issue is that of maintaining law and order in the state, I think for any meaningful activities to take place in Rivers State, that is the utmost task that I have.” The retired…

The Attorney General of the Federation (AGF), Lateef Fagbemi, says the Federal Government will be acting in order if it releases the blocked monthly allocation to the newly sworn-in Sole Administrator for Rivers State, Vice Admiral Ibok-ete Ibas (rtd.). The justice minister, who spoke with State House correspondents at the Villa on Wednesday, said an extraordinary situation had arisen in the oil-rich state hence the initial seizure of allocation might be overruled. Fagbemi said, “An extraordinary situation has arisen in Rivers State. When the administrator comes, he may request for these funds, and to me, it will be in order…